Agricultural Soil Fumigant Market Will Generate All New Growth...

Agricultural Soil Fumigant Market Will Generate All New Growth Opportunities, Projected To Reach USD 2.25 Billion At a CAGR of 4.5%

Posted 2023-09-08 10:31:20

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Market Summary The Agricultural Soil Fumigant Market had a value of USD 1.52 Billion in 2022, and it is projected to reach USD 2.25 Billion by 2032, with a Compound Annual Growth Rate (CAGR) of 4.5% over the forecast period. The driving factors behind the growth in market revenue include the increasing demand for enhanced agricultural productivity, the rise in soil-borne diseases and pests, and the growing need for high-quality crops.

Soil fumigation, an effective method for controlling soil-borne pests and diseases, contributes to improved crop quality and production. Soil fumigants, chemical substances used to eliminate soil-dwelling pests and diseases, play a crucial role in this process. Soil quality deficiencies are a major source of soil-borne pests and diseases, which can negatively impact crop yield and quality. Soil fumigation is vital for maintaining healthy soil conditions, increasing crop output, and enhancing crop quality.

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The demand for agricultural soil fumigants has surged due to the necessity to augment crop productivity and meet the increasing demand for top-quality agricultural products. The agriculture sector faces mounting pressure to produce higher crop yields to fulfill the escalating requirements for food, feed, and fiber. Agricultural soil fumigants aid in eliminating soil-borne pests and diseases, thus elevating crop yield and quality, which in turn meets the rising demand for superior agricultural produce. Moreover, the utilization of agricultural soil fumigants extends the lifespan of crops, thereby reducing the need for frequent replanting.

Growing concerns about soil-transmitted pests and diseases have also led to an increase in demand for agricultural soil fumigants. Soil-borne diseases and pests can cause substantial damage to crops, resulting in diminished crop yield and quality. Soil fumigation offers an efficient solution to counteract soil-borne issues, thus preserving soil quality and safeguarding crop health. The requirement for agricultural soil fumigants has escalated as soil fumigation becomes increasingly indispensable across diverse industries, including those related to tobacco, ornamental plants, fruits, and vegetables.

Stringent governmental regulations aimed at mitigating environmental degradation are driving the demand for eco-friendly agricultural soil fumigants. Governments worldwide are implementing measures to restrict the use of harmful chemicals in agriculture. Eco-friendly agricultural soil fumigants are adopted in farming practices to mitigate their environmental impact and conserve the ecosystem. The surge in interest in organic farming practices further fuels the demand for environmentally sustainable agricultural soil fumigants.

The COVID-19 pandemic had repercussions on global market dynamics and supply chains in 2020. Disruptions in the agricultural sector led to reduced demand for agricultural soil fumigants. Nevertheless, as the world moves towards recovery, the need for increased crop productivity and higher-quality commodities is anticipated to drive up demand for agricultural soil fumigants.

Despite its potential growth, challenges such as the high cost of soil fumigation, limited availability of suitable products, and the need for specialized equipment and expertise hinder the expansion of the global agricultural soil fumigant industry.

Types of Soil Fumigants: The agricultural soil fumigant market encompasses various types of soil fumigants, including Methyl Bromide, Chloropicrin, 1,3-Dichloropropene, Metam Sodium, and others. Methyl Bromide held the largest share of revenue in the global market in 2021. However, the market is expected to experience substantial growth due to increasing demand for fumigants like chloropicrin and 1,3-Dichloropropene, which offer affordability and versatility in application.

Methyl Bromide has been a widely used soil fumigant due to its effective pest control properties. However, environmental and health concerns have led to its prohibition in many countries. This has driven the demand for alternative fumigants such as chloropicrin and 1,3-Dichloropropene. Chloropicrin, known for its efficacy against soil-borne diseases and lower environmental impact, has emerged as a successful replacement for methyl bromide. Combining chloropicrin with other fumigants like 1,3-Dichloropropene enhances its effectiveness and reduces application rates.

1,3-Dichloropropene is another significant fumigant, widely used to combat various soil-borne pathogens, nematodes, fungi, and bacteria. This fumigant is often used in combination with Chloropicrin and Metam Sodium to achieve comprehensive control against soil-borne pests and diseases.

Crop Types: The agricultural soil fumigant market is categorized based on crop types, including fruits and vegetables, cereals and grains, oilseeds and pulses, and other crops. The fruits and vegetables segment accounted for the largest revenue share in 2021, owing to the high demand for fresh produce and the growing application of soil fumigants to protect crops from soil-borne pests, diseases, and weeds. Soil fumigants have become essential in ensuring crop quality and productivity for fruits and vegetables.

The cereals and grains segment is predicted to exhibit the highest revenue CAGR during the forecast period. The surge in demand for cereal and grain crops for both food and feed purposes is driving this growth. Fumigation plays a vital role in pest and disease control, mycotoxin reduction, and extending crop shelf life for cereals and grains. Moreover, the application of soil fumigants to grains and cereals enhances crop yields, improves crop quality, and minimizes crop losses.

The oilseeds and pulses segment is also expected to experience substantial growth over the forecast period. Increased prevalence of pests and diseases, coupled with rising demand for oilseeds and pulses for both food and industrial use, is driving the use of soil fumigants in this segment. Soil fumigation offers benefits such as improved seed germination, reduced soil-borne diseases, and increased agricultural productivity.

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